Taiko Network
Last updated
Last updated
is the first based rollup utilising ZK-Rollup designed to boost Ethereum’s scalability efficiently while maintaining its security and compatibility. It supports all EVM opcodes in a layer-2 architecture as well as the full JSON-RPC execution client API. It provides faster transactions and lower fees without compromising the integrity of the Ethereum ecosystem. By design, Taiko also inherits the decentralization of the L1.
is a scaling solution for Ethereum (L1). It performs transaction execution off-chain, packing transactions in blocks. ZK-rollups use for reconstructing the Ethereum chain state and post a ZK proof to the Settlement rollup layer for each block.
Taiko stands out with its innovative Based Rollup , spearheaded by the Taiko Token, an ERC20 token. It unfolds in a two-pronged approach, starting with the Based Contestable Rollup (BCR) and advancing to the Based Booster Rollup (BBR).
The Taiko token, $TKO, is instrumental in the contestable rollup design, underpinning critical bond systems that are essential for the integrity and timeliness of network operations, and are posted on L1.
The Taiko protocol’s design, specifically its Ethereum-equivalence, enables secure .
from Ethereum include lower block gas limit, higher block gas target and lower block time.
Find Taiko's news and updates on their official , and . Taiko's documentation can be accessed . Taiko's whitepaper can be accessed .
Minterest deployed on Taiko mainnet in May 2024 as part of its broader cross-chain strategy. Taiko’s underlying technology includes a number of unique features.
Reduced Costs and Enhanced Efficiency: Utilising Taiko's Layer 2 ZK-rollup solution significantly lowers transaction fees and accelerates transactions for Minterest, improving the overall efficiency of its lending and borrowing processes.
Expanded Scalability: With Taiko’s ability to handle higher transaction volumes, Minterest can support more simultaneous lending activities, enhancing platform scalability.
Broader User Adoption: By lowering entry barriers such as high gas fees and promoting Minterest within its extensive community, Taiko helps us attract a wider user base, increasing liquidity and platform activity.
Interoperability: Since Taiko is EVM compatible, it becomes a valuable addition to Minterest cross-chain strategy that supports seamless asset transfers across different blockchains, aligning with Minterest’s goal to bridge liquidity gaps in DeFi.
Liquidity Boost: More liquidity on Minterest's platform post-integration means improved lending and borrowing rates.
Zero-Knowledge Proofs: Taiko uses zero-knowledge proofs to validate transactions off-chain. This cryptographic method allows the network to prove that transactions are valid without revealing any specific details about the transactions themselves, ensuring privacy and efficiency. ZK-rollups maintain Ethereum's security, preventing malicious activities while ensuring reliable transaction validation.
Once you set up your wallet, you will need funds on the Taiko network so you can pay for transactions. Taiko is a Layer 2 built on Ethereum, so the gas fees are greatly reduced.
Gas fees on Taiko are paid in $ETH.
You can easily access the Taiko network if you have a web3 wallet address. Today's popular options are , , , , , and many more. Whatever wallet software you want to use on Minterest, accessing Taiko network is a no brainer.